Home - Mortgage Loans | Personal Loans | Bad Debt Loans | Foreclosure Loans
Apply for a Loan | Best Auto Loans | Best Bad Credit Auto Loans | Best Bad Credit Loans | Best Bill Consolidation Loans | Best Cash Advance Loans | Best Credit Cards | Best Credit Repair Tips | Best Debt Consolidation Loans | Best Free Credit Reporting Tips | Best Home Equity Loans | Best Mortgage Loans | Best Pay Day Loans | Best Personal Loans | Best Products on the Internet | Best Unsecured Loans
Great Financial Advice
Apply for a Loan
Latest Financial News
Rate Lock Advisory
Best Products
Join Our Mailing List
Contact Us
Loan Articles Index
Auto Loans
Bad Credit Auto Loans
Bad Credit Loans
Bill Consolidation Loans
Cash Advance Loans
Credit Cards
Credit Repair Tips
Debt Consolidation Loans
Debt Reduction Loans
Foreclosure Loans
Free Credit Reporting Tips
High Risk Loans
Home Equity Loans
Home Loans
Lawsuit Loans
Mortgage Loans
Pay Day Loans
Personal Loans
Products on the Internet
Real Estate Services
UK loans
Unsecured Loans
Loan Article Index
Loan Articles A-G
Loan Articles H-Q
Loan Articles R-Z
Mortgage Calculators
Mortgage Calculator
Mortgage Amortization Calculator
Rent vs. Buy Calculator
How Much Can I Afford Calculator
Auto Payment Calculator
Click here to Sign up for Email and Newsletter

 

redhotloantips fat loss


Secured Loans: Different Strokes for Different Blokes

Written by: Mike Clive

Secured loans are loans that are given against a property. It makes it less risky for the lender. Since, the risk for lenders is greatly reduced in case of secured loans they carry lower rates of interest than unsecured loans.

There are several benefits of availing a sec ured loan:

As we have already discussed, rates of interest on secured loans are lower than interest rates on unsecured loans. The amount that you can avail as a secured loan is much more than the amount that can be availed as an unsecured loan. A secured loan can be availed for a longer period of time than an unsecured loan. This will allow you to make small monthly repayments. You can avail a secured loan even if you have a poor credit rating history. Lenders are more willing to grant bad credit secured loans than bad credit unsecured loans. This is again because in case of a secured loan, the lender does not have to worry about non-repayment of the loan since the loan is secured against a property.

There are several types of secured loans:

Mortgage Loans A mortgage loan is a secured loan that is given against collateral. The most common mortgage loans are car loans and home loans. When a borrower avails a mortgage loan to buy a car or a house, the same car or the same house acts as the collateral.

Homeowner Loans A homeowner loan is a secured loan that is given against a house that the borrower already possesses. A homeowner loan can be availed for a number of purposes. A homeowner loan is very useful when you are going to buy a second house.

Home Equity Loan A home equity loan is taken when your house is already mortgaged and you are in a need of more funds. Home equity is the value left in a house after subtracting the unpaid mortgage balance from the current value of the house.

A secured loan is a very important source of personal finance. However, you must exercise this option very carefully. You must go for a secured loan only when you are confident that you will be able to repay the loan as per the loan terms and conditions.



About the author:

The author is a business writer specialising in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting Shakespeare Finance as a finance specialist.


Other Related Articles:

How to Locate Low Interest Loans UK
Low interest loans UK are a boon to anyone who is in need of a little extra money for whatever reason... they might be buying a house or a car, or attempting to consolidate other debts, or perhaps they need the money to pay for home improvements or...read more

Low Interest Rate Car Loan - Put Your Good Credit To Work
If you are in the market for a new vehicle, you will want to find a low interest rate car loan. One of the first things to do before starting your search for a new car is to obtain a copy of your credit report. You will want to make sure you have...read more

Home Equity loans; don't put your Home or Condo at risk!!
Debt Consolidation may be a better alternative Have you seen those bank and mortgage ads on TV and newspapers telling you to pay off those pesky high interest credit card bills by tapping into the equity of your home? They make it sound real...read more


Return to Home

468x60

Best Auto Loans, Best Bad Credit Auto Loans, Best Bad Credit Loans, Best Bill Consolidation Loans, Best Cash Advance Loans, Best Credit Cards, Best Credit Repair Tips, Best Debt Consolidation Loans, Best Debt Reduction Loans, Best Foreclosure Loans, Best Free Credit Reporting Tips, Best High Risk Loans, Best Home Equity Loans, Best Home Loans, Best Lawsuit Loans, Best Mortgage Loans, Best Pay Day Loans, Best Personal Loans, Best Products on the Internet, Best Real Estate Services, Best UK loans, Best Unsecured Loans
Subscribe to Mailing List | Private Policy | Unsubscribe | Site Map